This page will discuss your options while selling your mobile home with private land.
This page is designed to help homeowners looking to sell their properties, this page is not intended for MH investors.
Throughout this article I will be using the term “mobile home” to describe your mobile home + land package combo.
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1. Understanding the current used mobile home selling market.
The goal of this page is to give you the real-world tools and info you will need to sell your home fast! With that said I would love to tell you that mobile home buyers will be lining up to pay you all-cash or a new bank loan for your used mobile home. In reality this will not likely be the case unless the mobile home you are offering for sale is 1.) more attractive than any other within 3 miles and 2.) less expensive than any other mobile home for sale in an approximately 3 radius. You may also receive more than average attention from potential buyers if your property is located in an up-and-coming area with a high growth rate and high demand.
A. Being aware of your local real estate market. Local real estate (single family homes) markets are changing all the time. With that said this occasionally does and does not affect the manufactured homes and mobile home markets as well. If you live in a high-demand area that is seeing many new buyers coming to the area this is typically called, a seller’s market. This is especially true when the demand of housing outweighs the supply of housing available.
Due to the limited supply of homes in a seller’s market, manufactured homes with or without land may start to be looked at by more and more buyers who otherwise may not have considered these homes options. In this way there will be more buyers and more possible demand for your property.
Conversely, if your local market is simply average or below average with regards to the amount of buyers that wish to be in your town then there are typically more sellers than there are cash-buyers or new-bank-loan buyers locally. This means too many homes for a hand full of all cash or bank-financeable buyers.
B. What prices/terms are similar manufactured homes nearby for sale for and/or have sold nearby? In addition to having a “general sense” of the market, it is so important to concretely understand what comparable mobile homes/land packages nearby have sold for within the past 3 months, 6 months, and 9 months. If a mobile home and land package recently sold within 3 miles away that is similar to yours and sold for $40,000; this gives considerable weight that your mobile home and land package may be worth close to this amount or more.
In addition to knowing what has already sold, be aware about what sellers are currently asking for their mobile home and land. Keep in mind that Sellers can “ask” anything that they/you want to for their/your properties; what really matters is when these properties sell, how many days on the market, and for how much? A competent Realtor familiar with your area and manufactured homes will be able to provide a CMA or comparable market analysis on your home’s estimated value. More below.
C. Is your home bank financeable or worth paying all-cash for? Keep in mind that during this phase we are still understanding what your home is worth and how you may be able to resell it. You are likely asking many thousands of dollars for your mobile home and land, and this is not typically cash that most buyers have lying around. For this reason some buyers may need to be approved for bank financing to purchase your manufactured home/land.
Action Item: Contact local banks and credit unions, also contact nationwide manufactured home lenders that can be found online. Become familiar with regards to which banks finance manufactured homes with land and which companies will not be able to help you or your buyers. Of the companies that are able to help, find out the requirements of the manufactured home, land, and buyer’s approval process. Knowing this information will only help expedite the process of getting the home sold, and help with prescreening any potential buyers that may have past credit problems that could stop them from becoming approved. Click here to learn more about HUD approved FHA financing for mobile homes and manufactured homes.
List of Manufactured Home lenders: Coming soon.
2. Understanding your mobile home selling options:
A. For Sale By Owner (FSBO): Selling your home yourself allows you to save a bit of money as you will typically not have to pay an agent’s commission. Occasionally you may be approached by a Realtor representing a buyer. This Realtor may have a buyer for your property, however this Realtor and broker will typically require a 2% to 4% buyer’s agent commission from the sale in order to help you. This help can be well worth the cost.
If you sell a mobile home yourself then you will want to stay very diligent with your advertising and marketing. At minimum you should aim to have 5+ more people walking through your home for sale per week. If you are not receiving this numbers than it may be a holiday week or you may need to alter your asking price, selling terms, and advertising methods; more on this below.
B. Realtor: Using a Realtor will give you access to buyers looking on the multiple listing service or MLS in your local area. Buyers using a Realtor are typically more seasoned and prepared to purchase a property than buyers without Realtors. (This is of course a very blanket remark and of course there are some serious mobile home buyers that are not working with Realtors in and around your area.) Keep in mind that it may be wise to have a few realtors come out to get an average opinion of what your home could sell for in the next 90 days, and why.
Tip: Be aware that some Realtors will be very good at telling you why you should give this Realtor your business. A Realtor may even over promise what he can deliver selling your property for. Ask how long his listings typically stay on the market and verify this with proof of his timely sales. Additionally, what advertising methods while this Realtor be using on a regular basis to resell your home. Aim to get the shortest listing as possible 60 days to 90 days is perfect; either the Realtor can sell it or not.
C. Short-sale, Foreclosure, or Deed in Lieu of Foreclosure: A foreclosure or bankruptcy is a large red mark on your credit history for 5+ years. If there is a way to avoid foreclosure or bankruptcy it is highly recommended. With that said this is absolutely an option. If your property has a lien, mortgage, or deed of trust then call your loan servicers “loan mitigation” department. You will need to be an authorized representative if the loan is not in your name, however assuming the loan is in your name then you will explain your financial situation and hardship. You will need to ask for a “short sale” package emailed or mailed to you immediately. In order for a short sale or deed in lieu of foreclosure to considered by the bank, the note must be nonperforming and past-due.
D. Rent (Forced-Landlords): This is regretfully becoming a more and more common scenario; a mobile home owner cannot resell their mobile home so they decide to rent out a room for rent the entire home just to cover the monthly loan payment. This homeowner has become a force-landlord.
Pros: While the home is being rented it is still in your ownership. If the market appreciates than the land value may appreciate as well. You may also run to the home until the market picks back up or until summer when there are more buyers in the market looking for a good deal.
Cons: You become a landlord. You are responsible for repairing the home and maintaining this property for your renters. Renter’s rights and “rentable” home conditions vary from state to state and county to county – so know your local laws and regulations.
E. Investors: Investors help purchase unwanted mobile homes around the country. Depending on a variable of factors multiple purchase offers can be made for your property. If you would like our team nationwide mobile home investors to make you a fast and fair purchase offer on your property, please click this sentence.
3. Understanding your possible mobile home buyers:
Before you advertise your property for sale, you must know how you are willing to receive the payment for your equity. Used mobile home buyers will likely take 3 forms: cash buyers, new bank loan buyers, and payment buyers.
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A. A cash buyer that is interested in a used mobile home for sale will be the minority of buyers you speak with. A buyer that has $30,000-$150,000+ for a used mobile home and land will be downsizing, using tax refund money, cashing out their 401k, or using some other form of savings to purchase your mobile home. Anyone spending all-cash has their pick of any mobile home as buyers with cash are king.
Cash example: Sale price is $120,000. Buyer pays you $120,000 cash and you give them 100% ownership via transfer of Deed(s).
B. A new bank loan buyer or bank-financeable buyer will be aiming to obtain a new bank loan to purchase your property. This seller should already be preapproved and likely have a “preapproval letter” from the lender to show you. A “preapproval letter” is a preliminary agreement from the buyer’s potential lender claiming that this buyer is semi-approved to borrow a certain amount [listed on the preapproval letter itself] to purchase a new or used manufactured home. Keep in mind that many banks will have restrictions on the age, location, and foundation of the mobile home being purchased. Not all mobile homes will be approved for bank financing, and lending criteria differs from lender to lender.
Bank example: Sales price is $120,000. Buyer’s bank/lender wires you $120,000 at closing and you give them 100% ownership via transfer of Deed(s).
C. A payment buyer is any buyer that has a “Down Payment” and monthly income to pay you over-time for the sales price of your mobile home. When you sell to a payment buyer you will want to make certain you collect a large enough down payment to help ensure the buyers do not default on you and leave your home. Plus, a buyer with cash to put “down” shows much higher quality, interest, and responsibility than a buyer with zero dollars in savings.
Buyers that will make you payments are everywhere. Think about this logically – most folks that are renting would love to own a home for market rent – this is essentially what you are offering.
Payment example: Sales price is $120,000. Buyer pays you $15,000 down and makes you monthly payments of $944.00 for 15 years at 7% interest. The day the buyer gives you the $15,000 you will sell the home to the buyer – however you will add yourself as Lien holder to the Title(s) or hold first lien position via mortgage or deed of trust.
Tip: When selling a mobile home for payments you may charge a premium for the home. Consider selling this home for $125,000 in the example above.
Tip: It is strongly advised to always utilize the help of a local real estate closing attorney. This closing attorney will help keep you compliant with national and local seller financing laws and regulations.
4. Advertising to find mobile home buyers:
Poor advertising and marketing of your mobile home and land property is a real concern. Now that you have identified your ideal selling price and made the property look attractive as best you can within your budget, it is important to get as many serious buyers seeing your advertisements and walking through your property as possible. From this point potential buyers can agree to your purchase price or counter offer with a price/terms of their own.
A. Online: Make certain to be advertising online. Sites such as Craigslist.com (free), Zillow.com (free or paid), Postlets.com (free or paid), FSBO.com (paid), MHVillage.com (paid), ForSaleByOwner.com (free) are all good sites to advertise your home through. The descriptive in your explanation of the property and make sure to include beautiful pictures of both the home and land.
B. Offline: The more people who see your advertisement the better. Advertise an open house in your local community newspaper and have accompanying yard-signs pointing drivers from the main road to your home. If possible, aim to advertise in the small local gazette instead of the large metropolitan newspaper to save costs and still remain effective. You may also want to hang flyers around the neighborhood advertising your property for sale. Some of your neighbors may want their friends or family to move in nearby.
C. Realtor: If you are working with a competent Realtor then you should have to do little to no advertising yourself.
5. You found a potential mobile home buyer & Closing
If your home has an attractive price and selling terms, and you are properly mass-marketing and advertising your property to the local community then you should absolutely find an eager buyer willing to purchase your good deal of a home.
A. Pre-approval letter: (Optional) If you will be selling this home with the help of a bank than your buyer should have a preapproval letter proving he/she is already preapproved for a specific amount of capital. The buyer may also show you his or her bank account with the appropriate current funds.
B. Purchase and Sale Agreement: (Required/Highly recommended) a purchase and sale agreement is a “meeting of the minds”. This agreement will be signed by both the purchaser and the seller and will then be handed/emailed/faxed to the closing company, escrow agent, or real estate attorney you are using to close this property. Use a closing company you trust or have used in the past.
Please click here for a sample copy of a purchase agreement if you are selling a mobile home and land package that have been legally joined or married. For situations where the mobile home and land do not share a legal description, then 2 contract will be used, an Unimproved Land Purchase Agreement and a Personal Property Purchase Agreement. – coming soon
C. Local closing attorney, Title agency, or Escrow office: (Required/Highly recommended) Using a closing professional will expedite and streamline the closing process for you. A competent closing company or attorney will be in contact with you regularly and will be the middle person who is facilitating all the closing paperwork and needed legal documents. Any help needed from you will typically be expressed in a very clear and easy to understand fashion. Make sure you receive your HUD-1 settlement statement at least 24 hours prior to closing.
Conclusion
Logically speaking there are buyers around you right now that absolutely would be willing to move into your manufactured home for the right price and terms. If you decide to sell your manufactured home for payments please be aware that there are so many high-risk buyers that you will not want to sell to. No matter how you are selling your manufactured home you must always listen to the market. If you are not receiving any calls from your advertisements then your prices, terms, pictures, or marketing is not working; you may wish to change your selling price, terms, and/or what you are doing to advertise.
When buyers do walk through your property make sure to always follow-up with their thoughts and opinions. These are absolutely people who you want to hear from as to what would make your home more desirable. Some buyers may simply need a push to know that you’re asking price is a little flexible if they would like to make you a counter offer.
Tip: Do not be too trusting when it comes to your buyers. Make sure to get everything in writing and be sure to trust your gut instincts.
Thank you for reading and following along. I hope the above words and advice have been helpful to you and at least pointing you in the right direction. If you have any follow-up questions or specific concerns never hesitate to reach out anytime below. Keep in touch.
Love what you do daily,
John Fedro
support@mobilehomeinvesting.net
128 Comments
Vicki Neumann
March 8, 2016Hello John,
We own a 1997 Saturn, approximately 2100 sq.ft. The home is a double-wide with 6″ outside walls, cathedral ceilings, plywood floors. It is in very good condition, but needs cosmetic work. We purchased this USED home in 2014 and loved it, however, due to health reasons, we are now in need of moving back to town. It sits on 5 acres of land that can be sold as simply acreage. We can only sell the home for cash since we purchased it used. This stops the interest of those who would like to have it.
I am writing because we would like to simply sell the mobile home and land separate and I’m checking all possible avenues at this time. Please let me know if you might be interested and if you have any other referrals, that would be great. We do have a realtor and we are working with her, as well, to get it sold.
Thank you for your time to read my information and I would appreciate some sort of answer.
Vicki Neumann
John Fedro
March 9, 2016Hi Vicki,
Thank you for reaching out and connecting. It looks like you are emailing me from Edmond, Oklahoma. If this is correct and I am working with a gentleman in and around the area that may be interested in coming out to take a look at your property. The home certainly sounds like something we may be interested in and I also curious about the land it sits on. Please email me personally with more information about the home, asking price, any pictures, and your contact information. You may email me at support@mobilehomeinvesting.net. If you are not in this area of Oklahoma or nearby, please clarify your homes address when you email me. Additionally, we would prefer to not work with a realtor involved. Please let me know when this listing agreement expires if possible.
With all that said, I am curious why you said you need to sell the home for all-cash you purchased it use? There are bank financing programs out there that will allow a home buyer to obtain a new loan on a used mobile home. Are you referencing the FHA requirements? Are you having a lot of people that like the home and want to purchase it, however they simply do not have the money available? In your opinion the home and land together are the most desirable, correct? What I mean by this question is that the home and land should stay together and not be removed and sold individually, correct? I hope this all helps and at least point us in the right direction. Let me know the answers to the questions above and we will go from there.
Talk soon,
John
Courtney Williams
July 3, 2019I need to sell my home fast. Like in next two days. And have someone who will buy I’m only asking 1500 can I just give them the title and get the money and be done??
John Fedro
July 7, 2019Hi Courtney,
Thank you for reaching out and connecting. I apologize about the slight delay in this comment reply. Please feel free to reach out to me directly at support@mobilehomeinvesting.net to tell me more about your property and send over pictures if possible. If I am working with anyone in the area I will certainly try to pass along your information to these local investors. With that said is past two days or if you’ve Artie sold this home or of moved on that is perfectly understandable. Moving forward if you have any follow-up questions or concerns never hesitate to reach out any time. All the best. Keep in touch.
Talk soon,
John
Jennifer Khawaja
March 5, 2019How would i separate my land from my mobile home? They are tied together in my mortgage. I want to keep my land but sell my mobile home. Can tjis be done? If so how much for service?
John Fedro
March 5, 2019Hi Jennifer,
Thank you for reaching out and connecting. If there was no lien/mortgage on your property and you would simply go down to the local property appraisers and tax appraisers office to get the process started to legally separate your home and your land. However because there is an underlying loan on the property this will have to be paid in full prior to separating the home and land. This has been my experience however if you call your bank directly they will be able to tell you anyways that they might be able to help you if possible. However the bank most likely once the lien held on the land because that is their collateral so that they can get paid back in case of a default. I hope this helps and starts to point you in the right direction. I apologize that I do not have better information for you that would allow you to quickly separate this and get the home paid off if possible. With that said if you find anything new or have any follow-up questions please never hesitate to reach out any time. All the best.
Talk soon,
John
Tammy
September 8, 2020Hi I was wondering what you did with the mobile home and land. I am in the situation.
Thank you
Ever Boulware
March 9, 2016I just want to know if I could just sell my home I want to sell this one so I can get a newer one
John Fedro
March 9, 2016Hi Ever,
Thank you for reaching out and connecting. It is important to advertise your home aggressively and be competitive in your asking price when selling. Please let me know more information about your property and any specific questions you have. Keep in touch.
Talk soon,
John
Jamie Finnsson
December 31, 2019My brother owns the land that he is selling and I inherited the mobile home, I need to sell it. It is a double wide 4 bedrooms, remodeled kitchen and bathrooms, however it is 2 years pre-hud. It is located in Terra Bella Ca
kyle butcher
March 15, 2016we live in ashtabula oh we recently orchard a manufactured home and put it on a permanent foundation so we could sell it and make a profit on it after we got this all done and the county building department Gave is a certificate of occupancy I went to the county auditor to surrender the title to deed out in real estate they told me we couldn’t because we have a mortgage on the home.. is there a way around this, like the bank the mortgage is through consenting to deeding it to real estate?
John Fedro
March 17, 2016Hi Kyle,
There absolutely is a way around this however it will typically require you obtaining a new loan on the home and land as a package deal. This will pay off your current loan and start the repayment process over again at whatever you borrow to refinance. With that said, the discretion in the decision to do this is completely on the bank you originally obtained the loan through, or any other bank locally or nationwide that will provide financing on mobile homes and land packages. (What I mean by “mobile homes and land packages” are mobile homes attached to private property. These are different than mobile homes inside pre-existing mobile home parks that only rent the land they sit on.) As your current loan sits it is for the personal property that is your mobile home. A loan for a major bank is typically compiled with hundreds of other loans and sold on second and third mortgage markets… What this basically means is that it is nearly impossible for the bank to simply add your lands legal description to the current note and mortgage or to rewrite the note and mortgage in some other fashion. I hope this all helps and makes sense. In short, you will absolutely need to contact your bank to get their instructions on your ideal outcome. Keep in touch moving forward and if you have any additional questions or concerns please never hesitate to reach out anytime. Always here to help.
Talk soon,
John
Dreama Fisher
September 3, 2019They are about to forecloser on our home and land we own 94400on it yet
John Fedro
September 8, 2019Hi Dreama Fisher,
Thank you for reaching out and connecting. If you want to email me over more information I can try to connect you with the local investor in the area that may be interested. You can email me directly at support@mobilehomeinvesting.net. I hope this helps a bit. If you have any specific questions never hesitate to send those over as well. All the best.
Talk soon,
John
kyle butcher
March 17, 2016our land is in with the loan what the bank is saying is if he signs of f on the intrest and taxes they should do it we will see in dropping off the Laskey work to him tomarrow and he is going to send it to the auditors office
Patti Shumpert
July 6, 2023I currently have a mobile home and land financed through Triad and need to sell it as a package. How do I go about this as the title is not clear?
John Fedro
July 18, 2023Hi Patti,
Thank you very much for reaching out and connecting. Mobile homes are definitely interesting because you may just want to sell the mobile home, or just the land, or both of them together. Since the mobile home is financed through triad, this will have to be paid off prior to the home and land transferring ownership to the new buyers. Because this is the case I would encourage you to use a real estate closing attorney or title company to facilitate the closing process. They will coordinate with the bank and the new buyers so that everything is paid in full and full ownership can be conveyed to the new buyer. If you are simply selling the mobile home and wanting to keep the land, my answer for you might be a little bit different. However the safest and quickest way forward is definitely to have the professionals handle it and make sure everything is transferred correctly. I hope this helps and points you in the right direction. It was a pretty simple and basic answer, so if you have any follow-up questions never hesitate to reach out. I hope that you are able to get what you want. All the best.
Talk soon,
John
Evelyn Wright
April 9, 2016We purchased a repo mobile home in 2001. We put it on land that we own and through the state of Texas had it recorded as real property. This was in Santa Fe, TX. My husband was transferred to the Corpus Christi area with his job. Our realtor found a buyer who started the loan process. Thirty days later we are finding out that FHA will not lend on this loan because with the mobile home being a repo it has been placed in 2 locations. We just found this out yesterday. We do not own out right, we have an existing loan. What I need to know is if we can sell this home. Or would we only be able to sell to a cash buyer?
John Fedro
April 9, 2016Hi Evelyn,
Thank you for reaching out with regards to your questions. Please see my thoughts below in bold.
Our realtor found a buyer who started the loan process. Thirty days later we are finding out that FHA will not lend on this loan because with the mobile home being a repo it has been placed in 2 locations. I very much regret to hear about this surprise. You are correct that there are many lenders that will not lead to a mobile home that has been moved to more than one location. With that said, there are definitely lenders that will underwrite a mobile home if it is been moved multiple times. I encourage you to reach out to Triad and Mountainside financial. These are two companies that regularly lend on mobile homes inside communities and attached to their own private land. You can Google both of these companies to find out their contact information and more details. We just found this out yesterday. We do not own out right, we have an existing loan. Have you been paying on this loan? Is this loan in default by now? Has the bank gone under or is no longer even being enforced or legitimate? Have you ever got any letters from this previous/current lien? Do you even know who the original debtors are? Is this lien attached to the land or the mobile home or both? What I need to know is if we can sell this home. Or would we only be able to sell to a cash buyer? There are a number of hurdles from the existing unknown lien to whether or not the home and land are legally married together or not. Please keep me updated and posted with the answers to the questions above and we will move forward accordingly. While finding a cash buyer would absolutely overcome many of these hurdles, there are still issues and questions that are brought up as to why there was a lien on the home without you knowing. Was title insurance issued when you purchase this property? If this is the case that should’ve been caught before you purchase the property.
Talk soon,
John
kathy ureka
April 10, 2016Hello John, We bought new 4 yrs ago a manufactured home within a mobile home park.We paid cash and have no mortgage or liens, We have a buyer who has been pre approved by his bank for the amount we asked for. How or what forms do we use to send to his bank to close the deal. His Bank is asking for a ratified contract but we are not realators so what do we doÉÉ
John Fedro
April 13, 2016Hi Kathy,
Congratulations on finding this fire and getting everything organized up to this point. Lenders and banks vary from company to company so any particular advice I may give you maybe incorrect for the specific company/lender your buyer is working with. The main reason I mention this is because your purchase and sale agreement is obviously not what this bank needs to complete their underwriting procedure and finalize the loan. It is for this reason I encourage you to contact the lender directly to see if they have a purchase and sale agreement they would recommend or if there is some certain verbiage the lender is looking for on the agreement. In short, it is no use trying to guess what the lender needs… It is best simply to ask this question directly to them. I hope this helps and at least point you in the right direction. As always, any questions or concerns you have forward never hesitate to reach out any time.
Talk soon,
John
Kalley SAYE
May 19, 2016We have a 1999 Clayton home on three acresof land. We still owe more on our mortgage than its worth. We would like to keep the land and build a house but the land was used to get the doublewide. We want to sell the home and keep the land,is this possible?
John Fedro
May 20, 2016Hi Kalley,
Thank you for reaching out and connecting with regards to your questions. In order to accomplish her goal you will certainly be on an uphill battle however it is definitely possible for you to achieve the goal of selling the mobile home and keeping the land to build a traditional single-family home.
The main obstacle is that your current loan needs to be paid off so that the land and mobile home may be separated from one another. I am only assuming that the mobile home and land are attached however they could already be separated as we speak. You can tell this by looking at the lands legal description, if the mobile home is included then the title(s) to the mobile home will have been relinquished to the state as it is now listed on the legal description of the land.
Because the home is upside down and you currently owe more than what the property is worth you may have to get some type of “construction loan” that will allow you to finance the building of the single-family home on your land. If you can convince a bank that a single-family home will be worth more than the amount you are financing there is likely a program out there for you. This is of course dependent on your credit and income as well.
Lastly, you will most likely need a buyer lined up for the mobile home to pay you all-cash once the property is free and clear and there is no more loan on your land/mobile home.
If it sounds like this is a bit confusing and there are a lot of pieces to the puzzle, you are absolutely correct. Because the home is upside down it is not realistic that anybody will buy this land from you without going through a short sale with your lender and potentially ruining/lowering your credit for the next few years.
With all this said, I would highly encourage you to reach out to knowledgeable and experienced lenders and loan originators nearby. Let them know your desired outcome. These qualified professionals will likely do their best to get you into the correct loan to build a new single-family home and cash out your current loan. With that said, if a broker or lender does not think they can help then they will likely tell you this as well so they do not waste their time or your own.
Keep in touch if you have any follow-up questions or concerns never hesitate to reach out any time. I hope you are not needing to sell quickly as this would only put added stress on your situation. If you do have some time and decent credit and income than accomplishing your goal is certainly not out of the question. Keep in touch.
Talk soon,
John
Monique Ford
June 2, 2016Hello,
Me and my husband bought a 2,000 + sqft Beautiful manufacture home, New- Customized, almost 4 years ago. We put it on family land and we decided we wanted to sell it. Only problem is that we cant sell it on this land, it has to be moved. We did not know that selling it separate (or even selling it used) will bring down the cost of value greatly. We are trying to figure out our options for selling it for what we owe. We are not looking for profit (If we can get profit from it, thats great also) we just to get it out of our name. Foreclosure+ Bad Credit= not an option. Please let me know if there are any options. Also, Land permits? we were thinking about moving it to colorado.. but there is certain permits or what not? Insight on that as well, if you can!! We appreciate it!
Thank you,
Monique Ford
John Fedro
June 5, 2016Hi Monique,
Thank you for reaching out and connecting with regards to your questions. From your description I have no doubt that your nearly brand-new double wide manufactured home is huge and gorgeous. But that said I regret to hear that you are now looking to sell this home after only four years. Additionally, the fact that the home has to be moved is likely going to make this an uphill battle to sell unless there is a good bit of equity in the home. The reason I mention this is because any buyer that purchases the home will have to spend nearly $10,000-$15,000 to move the home and set it up on their vacant piece of property.
Let us first talk about you selling the home and having a buyer remove the home from your property. This would be a rather normal sale where the buyer pays off the underlying loan, receives title, and moves the home to a new location, the end. Market and advertise your property for sale so that everyone in and around the area knows what you have for sale. Market online, off-line, as well as having yard signs around town advertising your property for sale. Also contact local mobile home parks, dealers, and brokers to see if they are interested in purchasing your slightly used manufactured home. I hope this makes a bit of sense and begins to point you in the right direction. If you have any questions or concerns never hesitate to reach out any time with regards to any of this.
Next, you mentioned about possibly moving the home to Colorado. If you paid for this move you could likely set the home up in a very desirable location that would attract an all-cash buyer within a relatively short period of time. You likely know that the Denver and Colorado markets are very hot right now and there are many cash buyers looking to overpay for mobile homes in or around the area. I am assuming that this is one of the main reasons why you would like to move it to Colorado. Perhaps you would like to move it for personal reasons so that you could live there yourselves. You will absolutely need to contact the county where the mobile home will be moved to. You will need to obtain moving permits through this county. Depending on where you are moving the home the land has to be prepped and ready for this double wide mobile home. If you have more specific information about where you are moving this to in Colorado I encourage you to please call the state directly at 303-866-4616 or 303 205-5608. Again, if you have any other questions or concerns never hesitate to reach out any time. Always happy to help. Keep in touch.
Talk soon,
John
Tammy E
June 18, 2016Hello-
My mother owns a 1971 double wide mobile home within a park in Florida. The home is in really bad shape. Her share of the park is worth 30,000. We tried to sell the home for share price, and buyers ended up offering 7,000 because of how bad of shape the home is in. I declined the sale as I feel I might have other options: If I demolished the home and just sold the land/Share could I ask and get 30,000 for an empty lot? I just want to get as much as I can as it’s my mother’s only life line of cash left. I moved mother to Ohio with me to save on costs of living for her. Just not sure what to do…
John Fedro
June 18, 2016Hi Tammy,
Thank you so much for reaching out and connecting. Additionally, thank you for your detailed questions. I regret to hear about your mother situation and the fact that this home now needs to be sold. It sounds like anyone interested in the home currently would either have to be an investor or someone willing to do the work prior to moving into the home. Or perhaps someone looking to remove the home and add another home there. Either way this will illuminate many buyers, many more if this is an age restricted area as well. If you removed a mobile home from the lot you would only be helping the new buyers a little bit as a new home will still need to be added to the property. Additionally, I am curious about the setback regulations on this land… New mobile homes are bigger than older ones so if there is a very small mobile home there now it may be hard to find another one of similar size to replace it with. This might not be the issue and another mobile home of almost any size may be added depending on the land. Concerning the $7000 offer… Absolutely call around to local realtors and appraisers in the area. See if realtors will give you comparable sales nearby and if an appraiser can give you a “pencil search” appraisal for your mother’s property. This will give you a rough estimate of the home and land’s value. The reason I mention this is because $7000 cash may be a realistic price in today’s economy. While it may be worth $30,000 online or as a just value by the county, it really depends on how many buyers are out there that will determine the “value” of you this property. Lastly, you may want to reach out to local dealers of new and used mobile homes nearby. Let them know you have land for sale at is ready for a mobile home. They can keep your name on a list for buyers that come in looking at mobile homes without any land to put them on. I hope this helps and all points you in the right direction. If you have any follow-up questions or concerns please never hesitate to reach at any time. All the best.
Talk soon,
John
Jennifer
June 30, 2016I have a 92 destiny Triple-wide mobile home on .8 of acre of private land. Need to sell it as soon as possible. The mobile home has a clear title and the land has a deed. Want to sell them together but because of the age of home it can not be financed. The mobile home needs lots of tlc which also eliminates financing. So we were hoping to look to see if investors would be interested in it since the land has a 2nd septic tank and a shared well so a 2nd mobile home can go in the back of the property (one used to be there). What is the best advice you can give on how to sale our property fast and with as much profit as we can get. We have it listed on Zillow Fsbo but most everyone contacting us was to rent it or owner finance which both are out of the question, we need to sale it. Any advice?
John Fedro
July 1, 2016Hi Jennifer,
Thank you for reaching out and connecting. Additionally, thank you for your detailed email and specific questions. I agree that because of the condition of the home and age the home may be difficult to be bank financed. You are already obviously trying to market the home online as best you can. I agree with your idea to have an interested investor possibly purchase the home. The second connection for the well and septic make perfect sense for an investor as well.
What area of the country are you located? If I have any investors locally I will certainly point them in your direction. Additionally, you may want to reach out to local real estate investors associations in your area. You can find these different groups on Meetup.com and also NationalREIA.com. While you do not have to attend these events I do encourage you to call up the organizers and asked them if they know any mobile home investors that would be interested in your properties.
I hope this all helps and starts to point you in the right direction. As always if you have any follow-up questions or concerns never hesitate to reach out any time. All the best.Please see my thoughts in bold.
Talk soon,
John
Irene Thomas
June 30, 2016Finally, I have found a website that is helpful to me as a new seller. Thank You! Irene Thomas
John Fedro
July 1, 2016Hi Irene,
Very happy to help. If there is anything else never hesitate to reach back out. All the best.
Talk soon,
John
Julie
July 10, 2016Hi John,
I have a doublewide, 28 X 48 in excellent condition (brand new roof, solid steel skirting, painted last year, well-maintained). It’s a Silver Creek home, manufactured in 2000. I’m not sure when it was set up on this property; I’m the second owner. The land is the size of a city lot and the home has city water and sewer. There’s a front porch plus a deck on the back, a fenced backyard plus a smaller picket fence around the front yard, a large storage shed, and a double carport. The neighborhood is in the country, quiet, safe. It’s not a park; it’s more like a subdivision.
I’ve become disabled and need to downsize and relocate for health reasons. I simply can’t manage a 1344 sq. ft. home myself anymore and the Texas heat is literally killing me. I’ve had my home for sale by owner on Zillow and have had lots of interest and showings. But it seems like here in West Texas, the type of folks who are most interested in my property can’t qualify for a mortgage loan.
My best bet, I think, is to find investors who would be interested in buying it as a rental but I don’t know how to do that. The home would easily rent for a minimum of $750/month. A nearby single wide without a carport, storage shed, porch or anything is renting for $675. Can you help or point me in the right direction? My home is in Abilene, TX.
Thanks!
Julie
John Fedro
July 11, 2016Hi Julie,
Thank you so much for reaching out and connecting. Additionally, thank you for your detailed comment and questions. This certainly makes answering your questions a bit easier for me. With that said it certainly does not surprise me that many of the folks looking at your home would be unable to purchase the property. Mobile homes on land are usually a bit more difficult to become financed for. Not only does the home need to qualify (which based off the description sounds beautiful and should not be a problem) however the buyer also has to apply and usually bring 20% down for a manufactured home loan. While this is not always the case it is typical and many buyers simply will not have this kind of money.
I am working with an investor somewhat nearby however depending on the price range you are looking to sell your property for this may or may not be an option. When you have time I encourage you to list the property on sellfastbyowner.com when possible. This is a free site that will advertise your home to any investors in the area. With that said I highly encourage you to contact a local realtor that specializes in mobile homes nearby to help sell your property. The reason I mention this is because buyers looking with realtors will typically be a bit more qualified and serious than buyers looking without the help of a realtor. Your home sounds beautiful and should not have any problem selling once you find a qualified buyer. Additionally, I would normally tell you to contact a local real estate investors club to advertise your property to this group as well. However I did some searching in and around your area and could not find anything within a 50 mile radius of you at all. With all this said I hope this starts to point you in the right direction and help. As always, if you ever have any follow-up questions or concerns please never hesitate to reach out anytime.
Talk soon,
John
Julie
July 11, 2016Hi John,
Thank you so much for responding quickly and for your good advice! I will attempt to list it on sellfastbyowner and try to find an interested local Realtor, as well. I really appreciate your help and time! We’ll see how it goes; fingers crossed!
Julie
wp
August 7, 2016John
I have a doublewide 2004 cavco on a 1.3 acre lot in Grant County just 2 miles out of Silver City,NM. I was wondering if you know of someone who might just want to buy the home? It has been on the market for 6 months with a realestate agent. She tells me its showing well, but no offers so far. Here is the listing. http://silvercityidx.com/listing.php?sid=59628&mls=32938&a=56&site_id=225&page_current=1. The address is 2208 cottage sans Silver City,nm.
John Fedro
August 7, 2016Hi WP,
Thank you for reaching out and connecting. The home and land looks beautiful. I will pass this along to the two investors I know of working in the semi nearby area. Make sure the home is listed in as many mediums and areas Online and off-line as you can think of. The more potential buyers that can see at the better. If you are open to offering financing on this property than you will likely have a larger pool of buyers interested in the home. All the best. If you ever have any follow-up questions or concerns please never hesitate to reach out any time.
Talk soon,
John
Rachel Galeazzi
August 8, 2016Hi! I have some questions about our mobile home. It is a 1986 single wide. We have fixed it up and it’s pretty nice, on a quarter acre of land. We have had it for almost 3 years. We owner financed it (and the land it’s on). So we still owe on it, but we were wondering if it would be possible to sell the mobile or trade it in for a new one and put it in the same spot. Im just wondering if this is possible since we still owe on it, owner financed. The agreement was that we could sell at any time, the title is in our name. I just don’t know if we can sell the trailer and not the land. Thank you for any help.
John Fedro
August 10, 2016Hi Rachel,
Thank you very much for connecting and reaching out. The answer to your question is definitely specific on the agreements you have with the seller and how the mobile home is titled on the property/land it sits on. Is the mobile home and land married together where the mobile home is found on the lands legal description? Or are the mobile home and land separate, and the mobile home has a physical title showing ownership? Additionally, is there an underlying loan on the mobile home and/or land? Lastly, is the person who is selling the home/land to you easy to work with and/or do they even have the capability to separate the home and land so that you may replace the home with a newer home? There are a lot of variables to consider in this is definitely something that the owner of the land and home will be able to answer for you directly. Make sure when you’re asking this person for help to focus on how this will benefit them. You will be adding a newer home to the land which will certainly increase the value? With that said are you going to be buying this new home for cash or with additional financing? If it is with cash then this would be enticing to the landowner as this is your collateral in case you default. However if you will be financing the mobile home then you may leave the landowner in a pickle if you decide to leave the land and home without paying. I hope this all helps and make sense a little bit. Obviously you will have to find out the answers to these questions and how the person you are buying the land/home from feel about you replacing the home. As always, if you ever have any follow-up questions or concerns never hesitate to reach out any time. All the best.
Talk soon,
John
wp
August 9, 2016I am willing to sell it as a package too, but if someone just wants the trailer, I am open to that.
I hesitant about financing it. I am afraid I will get left with a piece of trash. How much do you think I would ask for a down payment if I did finance?
John Fedro
August 10, 2016Hi WP,
I very much understand about selling the home and having the buyers default and leave you with a piece of trash. I would not want you to sell the home without at least half of the total price down at closing. With that said this is merely a suggestion and the choices obviously very much up to you. Moving forward if you have any follow-up questions or concerns never hesitate to reach out any time.
Talk soon,
John
Laura
September 9, 2016Hi John, I have a 2013 Clayton homes tru mobile home..it is a 14×66 3 bedroom 2 bath, and still in great shape. The original price was 33,000 with delivery and set up two years ago. I am wondering what the best way to sell would be. I have contacted a couple of those ‘ we buy mobile homes fast’ places, and one offered me $7,000!! Seven grand for a home that has only been lived in two years!! I couldn’t believe it! I know these homes are cheaper quality than others, but I have never even hung a picture, it has really been taken care of. It HAS been lived in though and has small things that need to be done, like a few places that need some touch up paint, but overall, it’s in great shape. What’s a fair offer in your opinion and what is the best way to sell? I am afraid if I just do a for sale by owner it will take forever, is that my only option though if I don’t want to practically give my home away? Thanks so much for your time!!!
John Fedro
September 14, 2016Hi Laura,
Thank you for reaching out and connecting. I regret to hear that you’re looking to sell your new mobile home so quickly. Your property is absolutely worth more than $7000 to the right buyer. For someone who is going to purchase the home to live in it and raise their family this home is absolutely worth $30,000 or more. With that said there are not many buyers with $30,000 cash lying around or the willingness to possibly go through a bank. I’m curious how many mobile homes have sold for cash in your park in the last 12 months? If the home is not located in a park then disregard this last question. If it has to be moved then this will even more limit the few cash buyers who would be interested in purchasing the property. With all this said I would encourage you to advertise the home in as many ways online and off-line as possible. Get as many local serious buyers walking through the property as possible. You may also want to reach out to local dealers to see if they are interested in either purchasing your home or brokering it in some way. Does the home have to be moved? Is it located in a pre-existing family mobile home community? Knowing these two things will help me give you a better opinion on what may be the best ways to move forward successfully. Looking forward to hearing back.
Talk soon,
John
Benjamin
January 9, 2017I noticed that you have purchased a mobile home from Clayton Homes; I too am interested within purchasing a manufactured home from Clayton Homes, which happens to be a HUD home(Not IRC Code). I live in Grand Junction Co, looking to purchase a beautiful 4 bed, 2 bath, 2100 square foot home for 90k and place on a piece of property in Fruita, Co for selling for 62k. I never owned a home before and cant help but look into manufactured homes for the price for square foot. We are comparing to stick built homes that are around 190k and cant get over how small and unpleasant they are for the asking prices. I suppose my question is for John Fedro and you Laura; what things should I be looking for when moving forward with this process? Will I be able to sell it down the road, (main concern, is it be financeable to a potential buyer, I have heard that HUD homes are harder for people to get financing on/ Dont plan on moving it after I set it) Right now, I am paying almost 800 for a single wide(Renting) and its only 1k foot and two bedrooms; this home would cost me close to 1k a month and is doubly nicer, and way more square foot. Would I have troubles renting it? Selling it? Any advice you can give me, would significantly appreciated! Little nervous; all my friends keep telling me that manufactured homes are a bad investment. What are your thoughts?
John Fedro
January 9, 2017Hi Benjamin,
Thank you for reaching out and connecting with regards to your questions. If you will be purchasing this home brand-new and placing it on your property then you should not have any trouble getting this home approved for bank financing whether you purchase it or another buyer purchases it from you in the next 5-15 years from now. This is of course assuming the home is in decent shape, on the correct foundation, and your buyer is approved for the loan as well. Your friends mentioned that a manufactured home is not the best investment, as long as you know the pros and cons of manufactured homes this is all manageable. You are correct that the introductory amount of $90,000 plus the cost of land is fairly reasonable for a 2000+ square foot home. The property value throughout Colorado is some of the highest in the nation. In my opinion you may be experiencing a bit of a boom due to the legal marijuana industry. I mention this because this is certainly temporary and if other states legalize this the demand in Colorado may go down. I say this because if in a few years market demand drops you will be left with the mobile home and land that is quite similar to other areas around the country. In my opinion this would be worse case scenario for you, which really isn’t that bad. In other areas of the country there are simply fewer buyers to purchase a used mobile home… However there are buyers. I say this because you may have trouble selling and it may be slow, however you should sell the home eventually, and rent the home fairly quickly depending on the additional inventory of homes. With all this said if the market stays anywhere like it has been for the last few years, you will easily be able to resell and re-rent this home. Many banks will lend on manufactured homes and land that are 20 years in newer. However, if the market drops significantly then you will be competing against every other seller in the market who is trying to get a cash buyer or bank finance buyer to purchase their use mobile home on land. Call Clayton and a few other lending companies to asked them their qualifications with regards to lending on mobile homes attached to private land. I hope this all helps and starts to point you in the right direction. I’m sure I jumped around from topic to topic so if you have any additional follow-up questions or concerns please never hesitate to reach out any time. All the best.
Talk soon,
John
DAn
September 23, 2016HI John interesting website.
Don’t know if you can answer my question.
I sold my 1978 mobile home completely remodeled to an out of state buyer in mid August. Buyer send me all is credit info and a $3000. account in the form of a bank draft.
Buyer was supposed to move in and pay the $28k balance on August 28th. Since that he have postponed his arrival for 3 weeks. I texted him beg. of last week to let him know if there was a problem. He told me that he should be able to move in in 10 days.
Well today is the day! Since his last text message 10 days ago, NO answer, no text, no call. Can’t send him anything because he supposed to have lost his house in a flooding up north and now living in a Hotel…
At this point I let him know that he will have to pay a $30 a day rent fee and that i really need to know what is going on.
What can I do about that? What happen with the account he gave on the house? I had to pay extra labors to finish the house in time for his supposed arrival day that never happen. I really need to get rid of this house that is getting really heavy on my wallet.
What can I do with this weird situation?
Thanks
Dan
John Fedro
September 26, 2016Hi Dan,
Thanks for reaching out and connecting. Additionally, thanks for being detailed in your comment as this helps me answer your questions. Please see my thoughts below in bold.
Don’t know if you can answer my question. I would sure be happy to try to help.
I sold my 1978 mobile home completely remodeled to an out of state buyer in mid August. Buyer send me all is credit info and a $3000. account in the form of a bank draft. Understood.
Buyer was supposed to move in and pay the $28k balance on August 28th. Since that he have postponed his arrival for 3 weeks. I texted him beg. of last week to let him know if there was a problem. He told me that he should be able to move in in 10 days. Understood. I believe I see where this may be going.
Well today is the day! Since his last text message 10 days ago, NO answer, no text, no call. Can’t send him anything because he supposed to have lost his house in a flooding up north and now living in a Hotel… I regret to hear this. Obviously this buyer is in a tough spot. With that said there are definitely certain obligations to uphold and a courtesy call or text message from him would certainly be appreciated.
At this point I let him know that he will have to pay a $30 a day rent fee and that i really need to know what is going on. Did he confirm this at all? If he did not confirm this then he could be a little surprised and offended if he gets a couple hundred dollar bill he was not expecting. Between you and me $30 a day is certainly not unreasonable at all.
What happen with the account he gave on the house? I am not sure I understand this questions with regards to the “account he gave on the house”. I had to pay extra labors to finish the house in time for his supposed arrival day that never happen. I really need to get rid of this house that is getting really heavy on my wallet. No title or purchase and sale agreement was ever signed correct? If a purchase and sale agreement was signed then you will have to honor the time you have given the buyer to close. With that said it sounds like this time has already came and went for sure. If you resell this home to another buyer be prepared to give back a majority of the $3000 to the buyer the could not fully close… I say give back a majority because it would be logical and fair to keep out any expenses occurred to you due to this holding time. Time is going by and every day is costing you money, possibly lot rent charges, and it is also getting later in the year which slowly slows down the buying market. If you’re purchase and sale agreement describes that the buyer will not get any of this money back then you may keep the entire $3000 as a forfeited deposit. I jumped around a few times above so I hope this all helps a bit and make sense. If I did not answer any questions please don’t hesitate to comment back or email me personally.
What can I do with this weird situation? It sounds like you are in a pretty solid situation with a good home to resell. In my opinion you should definitely continue marketing the home and line up another eager buyer to close as soon as possible. If the previous buyer shows up and completes the deal then great, however if not then continue reaching out to him to figure out what is going on and possibly be prepared to give part of the money back if the ask buyer demands it (better to pay back a little bit of money than to go to court). I hope this helps and I’ll make sense. Like I said above keep in touch and if you have any follow-up questions don’t hesitate to reach back out. Additionally, I would be curious to hear how all this resolves itself and what comes of this buyer.
Talk soon,
John
Nicole
January 14, 2017We want to sell out mobile home. We are owner financed through the people we bought it from. We have quite a bit of equity in the home already as we have had it a few years and put 9k down on it. Since purchasing it, our neighbors moved out and abandoned their home/property and its trashed. It definitely does not look good. Is it better to try to sell by owner or use a realtor to sell our home? Is there anything we can do about the abandoned house next door?
John Fedro
January 17, 2017Hi Nicole,
Thank you for reaching out and connecting. I admire your ambition to add value to the neighbors house and perhaps a profit for you. I do not know what the neighbor house looks like or the price in question, however if you can purchase it and resell the home for cash or payments then you may very likely be able to make a profit. Please feel free to comment back and ask any further specific questions with regards to the neighboring home. Depending on who owns the home now, either the park or the previous owners, you will need to make an offer to try to purchase this home for a very very good value.
With regards to the home you are currently making payments on, I would encourage you to find an all cash buyer if possible. This is a buyer that has enough liquid cash to pay for your home completely. This would pay off the lien holder and have you walk away with the additional cash. Depending on the year of your home you may also find a bank financed buyer. Keep in mind a bank finance buyer will take around 30 days or more to obtain financing through a banking institution. These banking institutions also have underwriting processes that may stop the buyer from purchasing the home before closing. The reason I mention this is because whether you sell with a realtor or sell for yourself make sure you are basing your sales price in reality. If you are selling for cash then there is a very black-and-white value that most people will pay for this home. However if you are able to collect monthly payments from your buyer then you will be able to sell the home quicker and for approximately 25% or more in value. I hope this all helps to make sense. If you have any additional follow-up questions or concerns please never hesitate to reach out any time. Have a great rest of the week. Keep in touch.
Talk soon,
John
Brenda
February 10, 2017Hi John,
My husband and I live in South Carolina. In 2008 we purchased a 1998 model doublewide mobile home that is on 1.3 acres, with a 30 loan. In 2010 we refinanced our mortgage down to a 15 year loan. It will be paid off in 2025. When we first purchased the home, we had the mobile home detitled to become one with the land. So my question is this…can we sell just the mobile home? We have thought about purchasing a new mobile home and placing it in the same spot as the one that is here now. I don’t know what would be involved as far as the current mortgage is concerned, or how any of this would work. Can you offer any information? Thank You.
John Fedro
February 16, 2017Hi Brenda,
Thank you for reaching out and connecting. Congratulations to you and your husband for owning a home you both really love. Also paying it off in the near future will be a great feat as well. The answer to your question is, “it depends”. In reality the answer is “yes”. However there may be things making it easier or more difficult with regards to the current underlying loan. I’m curious if the loan covers the home and the land or simply the land or simply the home. If the loan only is attached to the land then you will be able to easily contact the local County tax office and treasurer and property appraiser in your county and notify them on your intentions of changing your mobile homes property from “real property” to “personal property”. You will likely have to fill out a few pieces of paper in order to notify the state that your land will now be taxed differently as there will not be a mobile home legally attached to it. Also there will need to be a title reissued by your state as well. The clerks over the phone in person at the local property appraiser will point you in the right direction when you explain your situation over the phone. Keep in mind that if the loan is attached to the home and the land then either 1.) You will need to call up the bank and clear it with them that you would like to remove and replace the current mobile home on your land (they will need to agree to this) OR 2.) They will simply ask you to obtain a new loan once the old home is replaced. Working with local dealers will help facilitate this transaction as they are able to purchase your old mobile home from you in trade when they deliver the new home. There also dealer so they can usually work with local or nationwide banks. I hope this helps and starts to point you in the right direction. In short you can absolutely achieve your goal, however there are definitely hurdles and hoops you will have to jump through. I hope this helps and starts to make sense moving forward. If you ever have any follow-up questions or concerns please never hesitate to reach out any time. All the best.
Talk soon,
John
Kailey Yeager
July 12, 2017Hi John,
I am currently selling my mobile home its a 1998 Redman. I have found a buyer. We are selling it for 5000 dollars cash plus the amount due for the years taxes. We bought the place off of my boyfriend’s brother for cash 4 years ago. He signed the title over to us and that was it. The home sits in a mobile home park. The couple that is buying it is already accepted into the park via application he provides. The buyers are asking for a sellers agreement she said its required by law. I am not familiar with this and was wondering if you could give me advice on this subject. We did not go through any of that when we bought it 4 years ago.
Thank you,
Kailey
John Fedro
July 13, 2017Hi Kailey,
Thank you for reaching out and connecting. Congratulations on getting your property sold. It looks as if you are writing from the state of Pennsylvania. I do have experience in Pennsylvania and the only “sellers agreement” I can think of is a purchase and sale agreement between you and the buyers. This will be a standard purchase and sale agreement or purchase contract that will state how much the buyers will be purchasing the home for, when the closing date will be, and perhaps if there are any other warranties included with the home. I would encourage you to have the buyers bring you a “sellers agreement” that they have filled out and you can certainly sign it. I hope this helps and make sense. Moving forward if you have any follow-up questions or concerns never hesitate to reach out any time. If you learned that the buyers require another type of form never hesitate to comment back and ask any additional questions. All the best.
Talk soon,
John
Jennifer
July 17, 2017I have a 2007 16 x80 Deer Valley that I want to sell, only problem I have is a 28,000 mortgage left on it. The neighborhood I live in is not the same. I contacted a bank and the representative told me that I needed to sell it before they can help me get a new home. It is hard selling mobile homes for 28,000 because no one has that kind of money hanging around. The property is mine its 100×108. Can you give me some pointers on how can I sell this mobile home by the way it was a credit union rep that I bank with.. I’m willing to let anyone stay on the property and pay me land rent every month.
John Fedro
July 17, 2017Hi Jennifer,
Thank you for reaching out and connecting. Additionally, thank you for your detailed message is the certainly helps me answer your questions. Your home is roughly 10 years old so it is definitely still bank financeable. From the last sentence in your comment it seems as if you are willing to have the mobile home stay on the land where a future tenant-buyer will purchase the mobile home from you and rent your existing land. If your area is not a hotspot type area with many many people coming into the market from out estate than I agree that there probably not many buyers with $28,000 sitting around in their bank account looking to purchase a used mobile home on a small piece of land. However, if you are willing to owner finance this mobile home to a new buyer that I absolutely think you could sell it for $28,000 without a problem. You could likely make more over 10 years or more. Keep in mind that you will have to keep the tenant-buyer on the property until they have paid the home off in full. With all this said this is certainly just the tip of the iceberg with regards to the process of moving forward selling your mobile home via owner financing to a low-risk tenant-buyer and also collecting lot rent payments every month from this person. Keep in mind that the total price you charge monthly for the home and land will have to be a normal cost similar to an apartment nearby with the same amount of bedrooms. I hope this all helps and make sense. As always, if you ever have any follow-up questions or concerns please never hesitate to reach out any time.
Talk soon,
John
Morgan
July 19, 2017I have a possible job offer in another state, but have a mortgage on a trailer in my home state. I don’t want to move my trailer because of the distance. Is it possible to sale my trailer for what I owe on my mortgage before I move?
John Fedro
July 28, 2017Hi Morgan,
Thank you for reaching out and connecting. Additionally, thank you for your question. If you find a buyer that has cash or qualifies for bank financing than they could absolutely pay off the current debt you owe. Once they do this they will obviously be the new owner of the mobile home. Keep in mind that in many states there is a delay of one day or more from the time that you pay off your title to the time you actually get a physical title in your hands or able to go down to the DMV to order a new title without the lien present. I hope this last part make sense. In short, I encourage you to call your loan company to ask them the procedure that happens once you find a buyer that wishes to pay off your home in full. Try to find out the turnaround time after you pay off the debt as to how long it will take for a new title to be issued to you. In most instances you may need the help of a local real estate attorney to act as a third-party to facilitate the entire transaction. This attorney is really only present in order to build trust that you will not simply take the buyers money to pay off your home and simply walk away without giving them the title. When the title comes back to you you will have to sign it and handed over to your new buyer. I hope this all helps and starts to point you in the right direction. You will likely have follow-up questions and concerns moving forward. Never hesitate to comment back any time. All the best.
Talk soon,
John
Kristen
July 24, 2017I have a 2012 Double Wide, we bought it new. We bought a new house a year ago, we have been renting the double wide out the past year, we still have a mortgage on this Doublewide. We already owned the land we put the doublewide on, but the doublewide can not be moved off the land until it is payed off, if I have someone interested in buying the doublewide for pay off, how does that work? I don’t want to sell the land with it just the doublewide, it this possible? Can they get a new mortgage in there name?
Thanks
John Fedro
July 28, 2017Hi Kristen,
Thank you for reaching out and connecting. Additionally, thank you for your detailed message as the certainly helps me answer your question better. It looks as if you are writing from South Carolina. I have good news that you can definitely accomplish your goal to sell the mobile home without selling the land. With that said I would definitely encourage you to reach out to a local real estate attorney that has mobile home experience. You will be required to find a buyer that is interested in removing the home from your land, however before they do this they will have to pay off the mobile home and have the lien released. The mobile home title may have been relinquished to the state if the mobile home and land are legally married together. However the process to separate the land and the mobile home is not difficult, and a local real estate attorney will be able to point you in the direction to quickly get this done. There is definitely work involved in this process however your goals absolutely can be accomplished. I hope that this all helps and makes a bit of sense. Moving forward if you have any follow-up questions with regards to selling or anything at all never hesitate to reach back out any time.
Talk soon,
John
Kevin Charron
August 8, 2017Hi John,
I have a 1995 Manufactured Home sitting on just under 17acres in Lancaster, SC. http://www.movoto.com/lancaster-sc/750-ethel-dr-lancaster-sc-29720-411_3296760/for-sale/
The home has a new roof, all new paint, comes with what is shown in the listing. Complete privacy, large creek, multiple bridges, etc.
We have had 2 contracts, but both buyers ran into financing issues. It has shown very well so far. The area is just south of Charlotte, NC with great schools.
If you know of anyone interested, please let me know or feel free to contact my agent directly.
Andrew Weare
September 29, 2017I have a double wide, – one and three quarter bathrm, three bedroom Kitchen diner, A/C, floor heating, a shed, off road pkg, quiet spot, upscale ‘hood.. Gimme a price !
John Fedro
September 30, 2017Hi Andrew,
Thank you for reaching out and connecting. The property certainly sounds nice. I would deftly need to know a lot more about the property, where it was located, any repairs needed, and ideally some pictures would be great. If possible I would definitely encourage you to upload it to this website free of charge. http://www.sellfastbyowner.com/about-us/ This website is visited by active mobile home investors and buyers around the country and hopefully in and around your local area. Once you upload the property please feel free to email me back or alert me and I’ll be happy to give you my estimate on what I think you might be able to get for the property retail if you are able to wait or through an investor as well. As always, if you ever have any follow-up questions or concerns never hesitate to reach out any time. All the best.
Talk soon,
John
steve schroats
October 11, 2017Hello, we have a doublewide in Stephenville, Texas, that we bought as a foreclosure in 2008. It is a 2003 Redman Stonebrook, 14×60, 4brm, 2bath w/two living areas (1 with fireplace) and a kitchen with an island. It sits on an acre of land and has its own well and septic. It has a new roof and we painted it earlier this year. It’s about five miles from the center of town in a quiet country setting with beautiful views and room for horses or other pets. Our daughter lived in it while she attended Tarleton State University and we have rented it since. We currently get $1,100/month rent and have rarely had trouble finding long-term renters. But now we are interested in selling as we are preparing for retirement. We are asking $135,000. We still have a mortgage and aren’t certain if we would have to pay that off with our own funds before we could sell or if it would be done as part of a sale. We would like to sell it outright but would consider owner financing, though we’ve never had experience with that and are not knowledgeable about our options. Any guidance would be appreciated. Thanks
John Fedro
October 26, 2017Hi Steve,
Thank you for reaching out and connecting. Congratulations picking up this foreclosed home almost a decade ago. This was a very smart purchase for you. I hope it has paid off and been a great investment for you. With that said I understand you wanting to sell. Your first question about paying off the underlying debt is an easy one. This will be handled the closing. Your closing attorney or title office will facilitate all this between you, your bank, and your buyer. It is important that you have time in order to sell this property. While your area of the country and state is beautiful, there are only a finite number of buyers and sellers looking to purchase a used mobile home attached to private land. With that said your home is large and relatively new and sounds very beautiful. I would encourage you to hire a local realtor with manufactured home experience in the area. We are going into the slower months however things absolutely do sell for cash or bank financing. With that said your home certainly does still fit many banks lending requirements for manufactured homes based on the age. If you do consider seller held financing I would encourage you to collect at least 20% down from your buyer. With that said, if your buyer can put down 20% they can likely get financed through bank as well. I hope this helps and starts to point you in the right direction. You will likely have follow-up questions and concerns. Never hesitate to reach out any time with any follow-up questions you may have. All the best.
Talk soon,
John
Margie Acosta
October 18, 2017Hello I am in South Carolina… I have a 4 year old manufacturied home 960 square foot with 1.3 a. Of land … 3 bed rooms 2 full bathroom brand new water well , hot tub in the back fenced in yard brand new storage building also brick underpinning..I been trying to sell but it’s been hard the home won’t go FHA …. had many showings but I heard it all so I am about to give up I know my home is not junk it has been taken well care of I don’t even put holes in the walls … I would like to move because my husband don’t like SC as for me I have lived here for 20 years and I guess I need change .. my realtor keeps saying it will sell but I believe there are no financial companies out … I am not sure if you can help because my home is still financed … but any advice you have I would be greatful thanks and be blessed…
John Fedro
October 26, 2017Hi Margie,
Thank you for reaching out and connecting. I am happy that you are planning on moving and looking forward to a change of scenery, however I regret to hear it is taking longer than expected to sell your manufactured home. If the property is only four years old and a three bedroom attached to an acre of land, this sounds absolutely financeable by a bank or lending institution. If not FHA then by a local or nationwide lender. The current lending institution you use, with a be willing to re-lend on this property again to your future buyer? However the buyer definitely has to be approved and likely will need 20% down payment to purchase the property. If you are open to seller held financing and are willing to take a down payment and payments from your buyer this could help facilitate a faster sale however the lien would still be in your name and you would be collecting payments from your buyer.
With regards to selling your property to a cash buyer or bank-financed buyer your mobile home must be prettier than the competitions and for sale 10% cheaper if possible. You and every other mobile home seller are looking for the same few buyers that are looking to purchase a good value manufactured home on private land. Make sure to advertise your mobile home online and off-line in as many mediums as you can. We are going into the winter months so things may slow down until early next year. With that said I hope this helps a bit and gives you added clarity. As always, if you ever have any follow-up questions or concerns please never hesitate to reach out any time.
Talk soon,
John
Jay Branson
November 21, 2017I own a mobile home on an acre of land and would like to sell the mobile home, but keep the land. Can I sell the mobile and allow the new owners to keep it on my lot and charge them lot rent?
John Fedro
November 26, 2017Hi Jay,
Thank you for reaching out and connecting. With regards to your question the answer is, “it depends”. However most likely you will absolutely be able to sell the home and rent the land. However you will most likely have to separate the home and land “tax- wise” and legally before you can sell one without the other. In most states the simply involves filling out a form, paying a fee, and letting the property appraiser and County tax assessor know that these will be taxed separately and not together any longer. Definitely start with talking to your local property appraiser and tax collector and they will be able to point you in the right direction with the quickest process moving forward. As always, if you ever have any follow-up questions or concerns please never hesitate to reach out any time.
Talk soon,
John
Ken Wagner
November 22, 2017I just listed my mobile home in Davie Florida, Its in a 55 and over park Everglades Lakes Mobile Home Park. I hold Title Free and clear
the house was only on Craig’s list 2 days before I have a potential buyer. Can I sell this at the DMV like a car. Of coarse after the buyer complies with the background check required by the Park
John Fedro
November 26, 2017Hi Ken,
Thank you for reaching out and connecting. Congratulations on having a tentative buyer interested in your property and trying to get approved at the community. Yes, you are correct with regards to transferring the property down at the local Department of Motor Vehicles. Also make sure to get a bill of sale as this will be helpful when transferring property. As always, if you ever have any follow-up questions or concerns please never hesitate to reach out any time. All the best.
Talk soon,
John
Kimbely Warner
December 14, 2017Good morning,
We purchased a 2006 3 bed/2bath double wide that sits on 5.25 acres earlier this year for our daughter. We are located in Oklahoma. Since then she has decided she wants to live elsewhere and so we have decided to sell the property. We have remodeled the inside, painted the outside, replaced the roof and skirting, moved the pressure tank out from under the home and built a well house / storage shed. We would prefer not to use a realtor to sell the property. What advice can you give on the steps I need to take to accomplish this? Thank you very much for your help.
John Fedro
December 17, 2017Hi Kimberly,
Thank you for reaching out and connecting. Additionally, thank you for your detailed comment as a certainly does help me answer your question a point you in the right direction. If you’re planning to sell your property without the help of a realtor then there are definitely some things you should know. Depending on your location there may or may not be a high demand for used mobile home on private property. With that said there could be a very good demand and it could be quite easy to sell for cash or bank financing. However do make sure to price your home competitively. There only a certain number of mobile home active buyers in the market at any one given time. Make sure you are advertising your mobile home for sale in as many online and off-line methods as you can think of. Additionally, make sure your home is 10% less expensive than the competitions and prettier than comparable homes. Ideally this will help get your property sold fairly quickly. If it takes longer than expected than you may choose to sell your property with seller held financing taking down a very large down payment from a low-risk payment buyer. You may also wish to list your property on the MLS using a flat fee listing service. This will allow you to pay a few hundred dollars to have your property listed on the multiple listing service so other realtors may bring serious buyers to your property. You will have to pay the buyers agent however you will not have to pay any agent on the selling side. I hope this helps and make sense. As always, if you have any follow-up questions or concerns never hesitate to reach out any time. All the best.
Talk soon,
John
Tia Burton
December 16, 2017Hi. I am located in Dallas, Tx area. I have a mobile home and land listing that I took over for a colleague due to an emergency. This is my first time handling a mobile home transaction so I’m looking for a little guidance. It is a single wide with about 11.6 acres of land. Previous offers fell through before I took over because The issue is buyers not being able to get financing. At this point it is looking like it would have to be a cash only deal but for the listing price it would more than likely be an investor. What options would the seller have? Can she sell the land and mobile home separately? Or sell the land only and give the mobile home away?
John Fedro
December 17, 2017Hi Tia,
Thank you for reaching out and connecting. I hope your colleague is healthy and okay. Luckily the Dallas market certainly has a good number of investors and cash buyers in and around the area. With that said the amount of people looking for 11 acres with a single wide on it are likely few and far between. However if the property is attractively priced then by all means it should sell if it is attractive to the right buyer. You are definitely correct that it may be difficult to obtain financing on a land home package like this. However I would think the financing is certainly out there for the right buyer, assuming they put down enough money. But that is less realistic. Like you mentioned a cash buyer or owner financing would likely be the quickest and most realistic way to sell the property. You asked a question about the home and land being separated before you resell them. Yes, separating the land and home is likely very possible. You can get this process started by speaking with your local property appraiser and also the TDHCA in Texas with regards to the mobile home. You mentioned about selling the land only and giving the mobile home away, yes this is a possibility as well however I would not give the home away for free unless it is in very rough condition. I hope this helps and starts to point you in the right direction. As always, if you ever have any follow-up questions or concerns please never hesitate to reach out any time. Keep in touch.
Talk soon,
John
Sue
January 12, 2018Hi John
I am so happy to have found this website!
I have a MH located in MN on a resort and need to sell it. We pay a yearly lease. How do I advertise this?
Thank you!
John Fedro
January 16, 2018Hi Sue,
Thank you for reaching out and commenting. Please go to the following link and follow the instructions to list your property for free. http://www.sellfastbyowner.com/about-us/ The site is used by mobile home investors and buyers around the country. Additionally, please let me know if you have any follow-up questions or concerns. Never hesitate to email me specifically if you have questions about selling your property to a local buyer. Always happy to help if I can.
Talk soon,
John
Julie
February 11, 2018Hi
I own outright a single wide trailer 3 bd, 2 ba and just under 1300 sq ft in southeastern Indiana that sits on 1.64 acres. In addition there is a pole barn garage with 2 rooms in it and an above ground pool. WE are hoping to sell to sell it all and use the cash as a down payment on a stick built home. I’m working on getting it listed on this site but am curious if you know any investors in the Versailles, IN area who might be interested? Thanks Julie
John Fedro
February 15, 2018Hi Julie,
Thank you for reaching out and connecting. I do know active investors in Cincinnati that may be interested in your property. Once you get it posted live I will forward it over to these two investors. As always, if you ever have any related or unrelated questions or concerns never hesitate to reach out any time. All the best. Keep in touch.
Talk soon,
John
Ximena
February 21, 2018Hi! I would really appreciate your insight on my current situation. We moved into a new mobile home in October of 2107. It is a double wide 3 bedroom, 2 bath on 1.5 acres. I am wondering if I can sell it? Our purchasing mortgage price is $120,000 including the land. We are located in caddo mills Texas. I would really appreciate your feedback, thank you!
John Fedro
February 21, 2018Hi Ximena,
Thank you for reaching out and connecting. Congratulations on your new home purchase last year. With that said I regret to hear that you are already looking to sell the property. It certainly not good to be a motivated seller, especially if there is little to no equity in the property. I’m not completely sure on your exact area so I don’t want to give you any specific ideas if $120,000 is a low or high, however I’m curious based on your experience if this is a retail price. If this is a retail price than I do believe you will have difficulty reselling the mobile home to a cash or bank financed buyer. The reason for this is because there are only a finite amount of buyers looking for mobile homes at any one given time. In you are certainly in a more rural area compared to closer to Houston. Since there only a handful of buyers looking to purchase a used mobile home on land, they are all looking for a very good deal. With that said I have no doubt that your manufactured home must be absolutely gorgeous since it is new and on a good size piece of land. It is important that you advertise and market the home online and off-line is much as possible. Try to get your home on the MLS if possible. If you do not want to hire a realtor then there are flat listing services that will put your property on the market and have the calls directed to your phone. However the MLS will help pull in serious buyers that are bank qualified or have cash. You may also want to consider renting the home, selling it via lease option, or owner financing. There are a lot of ways to make mistakes while doing this so it is definitely important to ask questions and aim to receive a very good size down payment from a serious buyer. I hope this gives you something to think about and make sense. As always, if you ever have any follow-up questions or concerns please never hesitate to reach out any time. All the best.
Talk soon,
John
Gina Kidwell
February 22, 2018Hi John,
I have a question…we have a wonderful 1991 Manufactured home and 4 acres of land that we purchased in 2016. We would like to sell the home from the property and build a home in its place. Is this doable?? Can we sell the manufactured home then refinance and get a construction loan and in essence start over with a new loan? Or does the manufactured home portion of the loan need to be paid off first? we are in the WA state area.
Thank you!
Gina Kidwell
John Fedro
February 23, 2018Hi Gina,
Thank you for reaching out and connecting. Additionally, thank you for the detailed question is a certainly does help me try to point you in the right direction moving forward. First things first, yes this is doable. With that said the loan is most likely attached to both the home and land so you cannot likely sell one or the other without satisfying the current loan. However people in your situation do exactly what you are trying to do all the time around the country. In my experience many people will either build a single-family home next to their current mobile home or somewhere else on the property. Or the current older mobile home will be swapped out with a brand-new bigger mobile home. I would very much encourage you to reach out to your current loan service provider and see if they can help you with refinancing your current loan into a construction loan to build a new property. Once the property is complete you will then sell your current mobile home to make a sizable principal payment on the loan. You can then reach out to other lenders concerning construction loans that would pay off your current loan while allowing you to keep the mobile home in place for you to live in while your new property is being built. I hope this helps and make sense. If I’m understanding your question correctly that I hope this point you in the right direction. If I’m not understanding the questions correctly or you have any follow-up questions or concerns please never hesitate to reach out any time. All the best. Keep in touch.
Talk soon,
John
Dave Stewart
March 4, 2018John
Am also writing about best course of action to try to benefit somewhat from selling an older mobile home property on land. Property is located just north of las Cruces (NM) and is slightly over an acre with panoramic view of rio grand valley and organ mountains. It has a perimeter chain link fence and the replaced septic system is newer than home itself, and probably would support a much larger custom site built home.
The down sides include age of home (89 Champion) and the overall cheapness of it’s construction. Did not take this into account when purchasing 12 years ago due to giddiness over initial approval of purchase. Recently have discovered hidden mold due to inferior aluminum storm windows, that allowed moisture to enter inside walls. Have decided not to invest much in this home due to it’s age, and the amount of work needed now, and probably in the near future. These repairs would include new plumbing (to replace poly butylene tubing), new water heater, new furnace, new floor covering, new doors, and of course new windows over most of the home.
My question might be: is it possible to get rid of this home somehow, by selling it to a rebuilder, and get another newer structure up, or even a small site built with out completely losing my shirt? There is still a substantial amount of principal owed (roughly 80 %) so it does not look good. The home and land are considered “together” or defined as real property. Any way to separate them (even on health code grounds) to dispose of trailer, and keep land?
Thanks for any advice.
Dave S.
southern new mexico
John Fedro
March 5, 2018Hi Dave,
Thank you for reaching out and connecting. Additionally, thank you for the detailed comment is the certainly does help me think out loud with you and help give you any thoughts that may be useful.
My first thought is I hope that you do not have to sell any time soon, or that you are not super motivated or behind on payments. If you have time or do not even need to sell this would be ideal. With that said I’m not sure if this is an investment property or property that you are currently living in. If you signed personally on the underlying current loan in our current to the bank the perhaps they will refinance a newer mobile home to replace the older mobile home. When you purchase a mobile home from a dealer they will take the old home for you. This would of course be the easiest course of action if the bank allowed it and everything worked out.
Keep in over the years I’ve seen many homes from the 1980s and even 1970s that look amazingly beautiful and high quality for their age. They look nicer than homes path of their age. It really depends on how you keep up the home or if you take the time to upgrade it. $10,000 is a tremendous amount of money in order to upgrade a home, at least in my opinion using mobile home experienced heady people.
I’m not sure if this helps at all, however I do hope it point you in some direction moving forward. As always, if you ever have any follow-up questions or concerns never hesitate to reach out any time. Keep in touch. All the best.
Talk soon,
John
Victoria
March 15, 2018Hi, I came across your site while trying to research what to do with my 1999 28×80 Mobile home located in Mobile County Alabama.
My husband and Father-in-Law (who has since passed away) co-signed on the brand new Mobile home in 1999. We had it set up on land I own. We happily lived there for 18 years until we were suddenly moved to a different state for work. According to the pay off letter we owe a little under $40000. I have listed the Mobile home and the 1/3 acre lot with shed on a Sale group for cash only for what we owe. We just need to get it sold and off our plate. I have had a lot of interest with at least 6 people coming to view the property this weekend. If we get a cash offer what paperwork do I need to make the sale? Once we receive the money I know we have to immediately pay the mortgage loan. Does the mortgage holder then send us a title that we sign over to the purchaser? I just want to make sure I am doing everything correctly.
John Fedro
March 19, 2018Hi Victoria,
Thank you for reaching out and connecting. I regret to hear about your father-in-law passing. I hope that the move to a different state for work is a good thing. Once you find a buyer that has proven that they are capable of obtaining a loan or have the cash in a bank account that it will be important to get a purchase and sale contract signed between the buyer. This will establish a price and closing day and location. You will then take this purchase and sale contract to a local real estate attorney or title company in your area. They will then start the process to contact the lender and get all the paperwork needed to correctly and safely pay off the debt and transfer ownership between the parties. I hope this helps and make sense. You will likely have more questions moving forward. As always, if you have any follow-up questions or concerns now were moving forward never hesitate to reach out any time. All the best.
Talk soon,
John
Jill
May 15, 2018Hello! We just purchased a large piece of land that already has a double wide on it. We plan to build on that land and want to sell the double wide off. We do not have a mortgage on the land, so it’s free and clear. At closing, though, the attorney said something about the home being connected to that land. What steps to I need to take to sell just the double wide ASAP?
Thanks!
John Fedro
May 25, 2018Hi Jill,
Thank you so much for reaching out and connecting. Congratulations on purchasing the large piece of land with the double wide attached. The process to legally separate the mobile home from the land is not difficult in most states. You want to make contact with the local property appraiser and tax collector. You will need to sign forms and pay a fee in order to have the legal description changed in the systems updated to reflect that your home and land are now separated. You will then be required to likely obtain a title so that your mobile home can be moved or resold to someone else. I hope this helps and starts to point you in the right direction. As always, if you ever have any follow-up questions or concerns please never hesitate to reach out any time. All the best.
Talk soon,
John
Jennifer
June 20, 2018I own a trailer in Alvo, NE that is on a foundation, has an attached garage, enclosed porch, deck, and fenced in yard. I also own the land that the trailer is on (not in a trailer park, just in a neighborhood). My aunt and uncle have been renting the trailer from me for 9 years. My husband and I want to sell the trailer, and my aunt and uncle are interested in purchasing it from us if they can get the financing.
My husband and I have sold several other properties ourselves over the past few years that we have been married…selling the houses that we each owned when we were single, helping parents sell an acreage, etc., so we understand the “for sale by owner” game. Being a trailer, though, this is different, and we are a bit unsure of how to proceed. In trying to come up with the value of the property, we are trying to find out how to come up with our asking price. I have called a couple of appraisers who don’t work with trailers, so it’s sounding like an appraisal isn’t the way to go. I talked to a friend of ours who used to be a realtor, and he thought that since a loan for a trailer is different than a standard home, most lenders might not require an appraisal. On our yearly taxes, I have the tax value from the county being roughly $48,000…should that be in the range we should ask, or how do we get a more accurate number? We aren’t planning on using a realtor, so I hate to waste a realtor’s time to have them come give us a fair market value once-over to help us find our value. Also, it’s family, so we aren’t looking to make millions on it, but want it to be fair for everyone. We will no doubt set price some under the valued amount if it does end up being sold to family (the family rate 🙂 )
On the other homes that we have sold, we have gotten a packet from the title company with the purchase agreement paperwork, etc. to be filled out with the buyer, which we then take back to the title company to have them handle the closing. Is that what we should do here?
Sorry, I know I’m type-rambling, I found your site and appreciated your well-worded answers to other’s questions, so thought I’d pick your brain to see if you could point us in the right direction to get the ball rolling. Any advice would be greatly appreciated! Thanks again and have a wonderful day!
Jenn
John Fedro
June 25, 2018Hi Jennifer,
Thank you so much for reaching out and connecting. Thank you for the detailed message says the certainly does help me answer some of your questions and point you in a direction moving forward. First things first, congratulations to you and your husband with regards to pulling the trigger and owning so many properties. I have no doubt that these deals and successes do not come without a great deal of hard work and daily effort on your part. You certainly have a number of questions about mobile homes, which is perfectly understandable since you do not have that much experience with selling them as of yet. You mentioned that you will not be using a realtor to facilitate the sale, however I would absolutely encourage you to talk with a local realtor that is experienced with mobile homes to help understand the situation better. You can certainly pay the realtor a little bit of money for his or her time if you feel guilty. Definitely drive around the area to see who is representing other mobile homes attached to real property and contact this person. Talk to a few realtors if possible. I would also call up local banks and credit unions to find out if the mobile home is easily financeable, and to what price they would finance the property too. I hope this helps and starts to point you in the right direction. You’ll absolutely have more questions or concerns moving forward. Lastly, if you are working with a title agency that is familiar with mobile homes than they should absolutely provide you with a packet of papers and contracts to get signed. I hope this all helps. Keep in touch moving forward. All the best.
Talk soon,
John
Jacqueline Henry
June 22, 2018What if you want to sell a mobile home you own and is paid off but the land isn’t yours the trailer would have to be move do you still buy them
John Fedro
June 25, 2018Hi Jacqueline,
Thank you for reaching out and connecting. Yes, me and many other mobile home investors are interested in mobile homes that “must be moved” after they are purchased. With that said if they can stay in their current location that is even more ideal, however if the price, terms, and condition of the home are attractive there are likely buyers interested. However the amount of buyers that are interested in a home that “must be moved” is a lot smaller than those if the home can stay in place. I hope this helps and makes sense. Please let me know any follow-up questions you have for your location and I’d be happy to help point you in the right direction moving forward.
Talk soon,
John
Brandon Richards
July 23, 2018Great post, useful tips, If you want to sell your house fast i would also recommend investor sites like brandonbuysdallas.com and list it with them though they are only focusing on dallas and fort worth but you can search any site that buys houses near you. thanks for sharing this post.
Michele Werder
August 29, 2018Hi John,
My parents purchased a mobile home and land from a seller and his wife in the 1980s. The title was never transferred. My parents paid taxes properly every year. The sellers wife died in the 1990s. The seller died in early 2000s. My father died last year and my mom is now trying to sell their home but learned the about the title issue. Do you know how this should be corrected?
Thank you kindly,
Michele
John Fedro
August 29, 2018Hi Michele,
Thank you for reaching out and connecting. I very much regret to hear about your father’s passing last year. What state are you currently located in? Depending on your state there may be a few different options that you have in situations like this. Please let me know what state you’re in. You’ll want to reach out to the mobile home title transfer department in your local area. If you let me know what state are and I’ll be happy to point you in the right direction. As always, if you ever have any follow-up questions or concerns never hesitate to reach out anytime.
Talk soon,
John
Monique
September 11, 2018Hello John
I need some advice, I have a mortgage on a double wide with land on a little over an acre that’s sits on a rural area non mobile home park. I owe $71,000 to pay the loan off in full, My husband and I did remodeling to the existing home where we added 2 new bedrooms downstairs with high ceilings, everything we did has a permit through the state (to code) anyway it’s in good shape, except for the fridge works, dishwasher not working and washer and dryer works it’s time to replace the microwave. the land sits on a good water table and the land is fertile just my husband and I didn’t have a green thumb, we had starter trees but told later We coddled them and they never searched for their water, (lazy) We bought a large carport with permit in the front, we built a more attractive well house, and built pony walls on both sides of the front entrance, the home sits 100ft. from the County road, I always wanted a grand entrance. We built a privacy fence, and inside fencing we covered it with reed. We also built a tiki hut, that has a small cross bridge, with a homeade waterfall flows into a pond has Koi Fish. I just purchased a new patio door. the back side of home is attached flush against to a back deck, upper and lower deck, there will need to have some upkeep on lower deck fencing we had decking surrounded an above ground pool with a small waterfall feature on the fence post.
med. sized wood shed, and small aluminum shed put back
I love my home and my mortgage payment is easily maintained. But after finding out a year ago that my husband had an affair, the home isn’t welcoming to me, it’s a constant reminder. I know I owe alot but the home and land is perfect for a family wanting to get out of renting a dream for a first time owner. I would be asking for $71,000. up front to pay off the loan and I know that Mobile Homes depreciate, but a home is still a home and this home is solid and we did lots of work to it inside and out. I would be willing to finance the rest, either on a rent to own basis, but that new owner would be responsible for their own maintenance/repairs This will be set on a contract. I have asked the neighbors around how much they would pay for the home and land, I have had well over 100,000
John Fedro
September 11, 2018Hi Monique,
Thank you for reaching out and connecting. Additionally, thank you for the very detailed message as this certainly does help me understand your home and situation a little bit better. I was smiling and getting a good visual at the description you had of your mobile home and property. Every sentence was more and more beautiful with regards to the Koi pond, tiki hut, small bridge, etc. My mouth then dropped wide open to learn about your husband’s affair. I very much regret to hear this and the pain that it must be causing you. Very understandable that this home would not be something you would wish to be in any longer. You sound like an amazing person who has her act together and I wish you nothing but the best moving forward.
Have you had an appraisal on the property and land? Let me know what questions you have with regards to someone paying off your underlying loan and making you payments for the rest of your equity. I would take what other people say with a grain of salt as to how much they would pay on your property. If they have money or credit to go get a loan then we will take them seriously, however if they are only talking and this does not mean much unless they are willing to put their money where their mouth is. You certainly will have more questions and concerns moving forward. Never hesitate to reach out anytime. There is certainly a bunch to know with regards to selling a mobile home for cash, bank financing, or seller held financing. Let me know what questions you have and I’ll be happy to help you accordingly. Keep in touch. All the best.
Talk soon,
John
M
September 14, 2018I would like to sell a 1970 12×60 well kept mobile home on its own land 1/2 acre with drilled well and own septic and there is a metal pitched roof on it also a 24×24 new garage and paved driveway. it is located in southern Maine and is close to major places to for work, any idea what its worth?
John Fedro
September 18, 2018Hi M,
Thank you for reaching out and connecting. The answer to your question is most definitely, “it depends”. If the mobile homes attached to private property that you also own I would absolutely encourage you to reach out to at least three realtors to get their market analysis opinion on what your property is worth and would sell for in a reasonably short period of time. I would encourage you to drive around your local area and look for a realtor that has experience dealing with manufactured homes and mobile homes. With that said I certainly do not want to give you any wrong or misleading information about your property. It also depends how you would like to sell your property and if you’re willing to entertain an all-cash buyer only or willing to take payments as well. There are many other questions to consider however a local realtor that can evaluate exactly what you have for sale will be ideal to give you the most accurate price. I hope this helps and starts to point you in the right direction. As always, if you ever have any follow-up questions or concerns never hesitate to reach out anytime. All the best.
Talk soon,
John
Stormy Davidson
November 12, 2018I own a clayton double wide. It is huge.. 5 bedroom 3 baths.. the loan is connected to the land. this the only place it has ever been moved.. however we want to get out of this house.. how can we do that.. we still owe 70,000..
John Fedro
November 17, 2018Hi Stormy,
Thank you for reaching out and connecting. Your double wide with five-bedroom certainly does sound large and spacious. Additionally, I’m glad to hear that it is attached to private land. My first thought with regards to getting out of the home is to sell the home and land together as a package to a new buyer that obtains a new bank loan, or potentially pays cash. However if you are looking to sell the home and keep the land that may be a bit trickier. There are a lot fewer buyers that want to purchase and move a double wide, there are certainly buyers out there for this however they expect a steep discount on the mobile home. If you do wish to sell just the mobile home I would encourage you to go around to local dealers to see how much the trade-in value or purchase value they would pay for this mobile home. I would also encourage you to list the mobile home online and off-line in as many ways as possible to let anyone and everyone know your home is for sale. I hope this helps and starts to point you in the right direction. As always, if you ever have any follow-up questions or concerns never hesitate to reach out anytime.
Talk soon,
John
Kimberly
December 31, 2018Hi there. I am trying to help my son buy his first home. We have found a few possibilities; one being a de-titled doublewide. The seller is asking 120k which is a bit outrageous due to the manufacture date of 1994. Am I wrong? I realize it it part of a land/home package, however, I don’t think a bank will loan more than 50k. It is located on .75 acres in a rural area. The seller purchased it for 25k and renovated most of it. Any advice? Thanks
John Fedro
December 31, 2018Hi Kimberly,
Thank you for reaching out and connecting. I’m glad to hear about your son being ready to purchase his first mobile home. With that said I’m glad you’re taking the time and logical approach to make sure he is set up on the right path moving forward. If somebody else purchased this property for $25,000, then there is no reason you cannot do something similar moving forward. With that said you would certainly have to make a number of renovations, however it certainly would be the best deal for the money, if you had the time to wait and ability to make the repairs. However concerning this home for $120,000, I do not know of the address or location so I really am not at liberty to say if this is an extremely high price, a normal retail price, or something very crazy one way or the other. With that said if you feel a bank will not lend even $50,000, I agree that the seller may be trying to ask for the moon and not be very realistic. It’s sad but some sellers definitely are unrealistic and very greedy in what they are looking to get. Good question you can ask some people is “how did you get to that price?” Perhaps there are local comparable sales or recent appraisal was done. With all this said, if you have the time to keep looking I would encourage you to continue looking as it will definitely be more properties for sale in the new year. I hope this helps and starts to point you in the right direction. Moving forward if you have any follow-up questions or concerns never hesitate to reach out anytime. All the best.
Talk soon,
John
TANIA HELFT
February 23, 2019I am a small real estate investor in one of the most expensive state to live California. The real estate properties prices got insane here. I am getting interested in buying land now in the city here and develop it and buy a manufacturer home and put it in a permanent fundation and sell it right away. Is there money to be made in doing so? What are the vantages or desvantages to buy brand new or used ones? And if used ones, where can I find not too old ones to buy and transport it? I used to be a flipper, would hold a house as short as three months just time to fix it and put back one the market. Now, I am thinking to buy manufacturer, instead I would not know if it will be harder to sell and how much I would be able to ask if the land will be surrounded by real properties.
John Fedro
February 28, 2019Hi Tania,
Thank you for reaching out and connecting. You certainly are in a more expensive state to live in, compared to many other areas in the country. With that said depending on your exact area of California things may be more affordable than others. There are many things to consider when developing a piece of land, adding a foundation, adding a manufactured home, and reselling it for a profit. The advantages to a new home is that it is brand-new in financing should not be an issue. Additionally, you can simply go down to the factory and purchase a new home instead of finding a used one somewhere that may have been moved multiple times. If a home has been moved to many times it is usually not bank financeable through most banks. There are certainly a lot of things to know about land developing and moving homes, additionally speak with the local permitting and municipality in the area you plan on developing this land. They will let you know the cost of various permits and what may be required for setting up a permanent foundation in this area. I hope this helps and starts to point you in the right direction moving forward. There is definitely a lot to know and I would encourage you to work with somebody local that may have this experience already. As always, if you ever have any follow-up questions or concerns now or moving forward never hesitate to reach out any time.
Talk soon,
John
Andrew
March 25, 2019Hey John,
Me and my fiancé bought a 2100 sq ft 4 bed room 2 bath double wide in good condition did some upgrades it looks good. We just have never lived in a double wide and it’s different and we are not that happy really haven’t been in it long. We have 5 acrea of land and we are wanting to build on this land is it possible to sell my double wide and build a stick build house on my land. We still owe on the house and land mortage it is together. Also if we can sell can I use the money from where I sold trailer for down payment on stick built house?
John Fedro
March 28, 2019Hello Andrew,
Thank you for reaching out and connecting. Congratulations for originally purchasing this property in the first place. The answer to your questions are definitely, “it depends”. I would definitely encourage you to reach out to some local mobile home dealers in the area that have dealerships and lots in your area if possible. As these dealers what this home is worth and what they might purchase it for if possible. You can then also try to put your mobile home on the market to see if anyone wants to purchase it and move it off of your land. Keep in mind that this underlying debt will most likely have to be paid off in full before clear title is given to you, and then you can transfer this ownership to your new buyer. However if the mobile home itself will not cover the amount of the lien then you would have to bring this amount to the table yourself before the lien would be released. In very few cases I have seen were banks release the lien from the mobile home however keep it on the land. You may also call up your lender to explain to them your situation and see if they have any solutions for you where you are able to release the mobile home and borrow extra money for a construction loan or similar type of loan to build a new property. I hope this helps and starts to point you in the right direction moving forward. It will definitely be a bit of an uphill battle however I encourage you to push forward and know all of your options. As always, if you ever have any follow-up questions or concerns now or moving forward never hesitate to reach out any time. All the best.
Talk soon,
John
Tiffany
April 18, 2019We own a 2012 4 bed 2 bath mobile home that we are looking to sell along with the acre of land it sits on. It is 2450 square feet. All sheetrock, and crown molding. We have built a screen porch on the back and 2 open decks on back and front. I am trying to find out if the selling with be worth it. We still owe on it, and we just need to relocate.
John Fedro
April 27, 2019Hi Tiffany,
Thank you for reaching out and connecting. Your home sounds huge and practically new. You sound like you have a high pride of ownership and have kept up this property well. Certainly a good candidate for bank financing. If the home is in decent condition than it will obviously be desirable by anyone seriously looking for this type of property. I would very much encourage you to reach out to a handful of local realtors in the area. Perhaps try to find a few realtors that represent nearby manufactured homes on land as well. These folks should be able to give you an understanding of comparable sales in the area and what your home and land may be worth. I hope this helps and makes sense. As always, if you ever have any follow-up questions or concerns now or moving forward never hesitate to reach out any time.
Talk soon,
John
Eric T
April 28, 2019Hi John, great article! I’m new to investing and I’m very interested in the idea of selling a brand new mobile home with a sub-lot of land. I live in San Diego, CA where single family homes (1,000 sqft) are selling for $400k (8,000 sqft land average).
If I were to purchase an acre of land, would it be possible to split that acre into liveable zones, drop new mobile homes and sell them as a land/home packages?
What hurdles will I have if I take out a loan for the acre of land and get approved for the zoning? Will I be able to sell portions of the land w/ manufactured homes?
My goal is to turn an acre land investment (250k), 3-4 manufactured homes (60k new) into a profit. I want to sell each manufactured home with a piece of land for 350-400k each. Will that be possible?
John Fedro
April 30, 2019Hi Eric,
Very good to hear from you. Thanks for reaching out and connecting. Please see my thoughts below in bold.
I’m new to investing and I’m very interested in the idea of selling a brand new mobile home with a sub-lot of land. I live in San Diego, CA where single family homes (1,000 sqft) are selling for $400k (8,000 sqft land average). Very decent plan. Depending on the land you purchase the strategy certainly can be quite profitable. I’m working with a gentleman north of Los Angeles that has done a few of these home/land packages already.
If I were to purchase an acre of land, would it be possible to split that acre into liveable zones, drop new mobile homes and sell them as a land/home packages? The answer is definitely, it depends. You want to call up the local municipality’s zoning department and ask this very question. In many areas this may not be allowed, however it is definitely free to ask. You may also want to ask how many homes may be added and what type of water, sewer, septic tank situation is needed. Additionally, discovering setbacks and sizes of homes you may add are important as well.
What hurdles will I have if I take out a loan for the acre of land and get approved for the zoning? Will I be able to sell portions of the land w/ manufactured homes? The answer again is, it depends. Some loans allow you to borrow against the subject property with the understanding the land will be divided and sold out accordingly. With that said this would ideally be funded by private money instead of a traditional bank or credit union.
My goal is to turn an acre land investment (250k), 3-4 manufactured homes (60k new) into a profit. I want to sell each manufactured home with a piece of land for 350-400k each. Will that be possible? Your answer is definitely, it depends. If a mobile home is on a nice piece of land in a good area in your location then by all means $400,000 may be a very affordable price. However you will have to purchase a piece of land in a desirable area in order to ideally turn these and sell these quickly. I would encourage you to look where there are mobile homes on private land already and see what type of land is available. I hope this helps and starts to point you in the right direction moving forward. If you have any follow-up questions or concerns never hesitate to reach out any time. All the best.
Talk soon,
John
Talk soon,
John
Jaynell Hale
May 30, 2019Hi, I have a 2003 home on a permanent foundation on 5 acres of land. We purchased this together in 2003 but we still owe on the overall property. We are wanting to sell the home off the land and build a home in it’s place. What would be the process to do this? Then land itself would be worth more than we owe on the whole property in our area. Can we just find a buyer for the home and move it off? Who would be the right contacts in getting this done? I assumed I would have to pay off the original mortgage first? Is there a way around that?
John Fedro
June 5, 2019Hi Jaynell,
Thank you for reaching out and connecting. Please see my thoughts below in bold.
Hi, I have a 2003 home on a permanent foundation on 5 acres of land. We purchased this together in 2003 but we still owe on the overall property. Congratulations on purchasing and owning this property. We are wanting to sell the home off the land and build a home in it’s place. What would be the process to do this? The underlying loan will need to be released and the mobile home’s title will need to be provided to you so that you may sell this to a new buyer that is willing to move the home off of the land. Once this is done a new mobile home or site built house can be built on the property. If the mobile home title was relinquished to the state than a new title will have to be produced and the home/land separated so that the title can be sold to a new buyer in the home can be removed. Then land itself would be worth more than we owe on the whole property in our area. Understood. There are some banks that offer construction loans that will pay off this underlying loan and allow you money to build a new property depending on the home, land, and creditworthiness/income of the buyer. Can we just find a buyer for the home and move it off? Assuming that you have a free and clear title, yes. However if you do not have a free and clear title than you will need to use the money from the buyer to pay off the underlying loan. You will then receive a release of lien or free and clear title to then transfer to the buyer. If this is the case then getting a real estate attorney involved may be helpful as a neutral third party. This is because many buyers do not want to hand over $20,000 to help you pay off your underlying note with the chance that you may not actually sell them the mobile home title once it comes in. For this reason having a closing attorney facilitating the transaction will be helpful. The title can come to the attorney’s office and everything can be on the up and up, and everyone protected moving forward. Who would be the right contacts in getting this done? I assumed I would have to pay off the original mortgage first? Is there a way around that? No, there is no way around that in my experience. With that being said a less than reputable mobile home mover may move the mobile home without needing to see the title be placed in the new buyer’s name. This would mean that the mobile home would be moved however they would still be a lien on your land and the title would not be transferred. With all this said I hope this does help and start to point you in the right direction moving forward. If you have any follow-up questions now or moving forward never hesitate to reach out any time. All the best.
Talk soon,
John
Rojrlio garcia
March 29, 2021i want to buy a double trailer on your own lot in oregon about 30 miles around beaverton oregon
John Fedro
March 29, 2021Thank you for reaching out and connecting. That sounds beautiful. That area of the country is breathtaking and a double wide home on private land can be beautiful as well. I would definitely encourage you to make sure you are advertising everywhere you can for double wide mobile homes on their own land and that must be. If you are able to purchase a piece of land that had a mobile home to it that may be even a better deal. I hope this helps and makes sense. All the best.
Talk soon,
John
David Dombroski
October 3, 2019In 2011 I helped my mother by cosigning for a mobile home (2012 Horton) that closed for 53k here in Kissimmee, Florida. She has recently passed away within the last couple of days. At the time of her death she still owed roughly 30k on the mobile home. This was her primary residence. The dilemma that I am having is that the mobile home is in very rough condition (walls needing to be replaced, most of the flooring need to redone, some plumbing issues, basically a total fixer upper in a nutshell). I also don’t live in the area (live in the next county over) and don’t have any intentions of moving back regardless of the condition. I recently checked Zillow and they have estimated the property roughly at 100k. It is on private land and both me and mother were on the deed as well. What would be my options at this point since I highly doubt I would get current market value due to the deterioration of the home? All I know is I don’t want to have the place foreclosed on when I have worked my tail off to keep my credit in good standing? Any advice would be gladly appreciated.
John Fedro
October 20, 2019Hi David,
Thank you for reaching out and connecting. Additionally, thank you for your detailed message as a certainly does help me understand your situation a bit better. I very very much regret to hear about your mother’s passing. I have no idea what you and your family must be going through. I’m sorry for your loss. Understood about the mobile home needing a lot of work moving forward. If you are able to make the monthly note payments to keep the property out of foreclosure that would be ideal. If this is the case you certainly have a few options moving forward. You could hire a realtor and put the home on the MLS. You can sell the home to a local investor that will do the work and resell it. You could partner with the local investor that would do the work and sell it for a larger profit. Keep in mind that the low is not always the most accurate. However it is good that your mobile home is a 2011 is it probably has a good layout and hopefully the structure is in very good condition. Did you happen have a power of attorney from your mother? You’ll have to contact the local real estate attorney with regards to her being on the deed as well as you. I hope this helps a bit and starts to point you in the right direction moving forward. If you have any follow-up questions or concerns now or moving forward never hesitate to reach out any time. If I did not understand something and forgot to answer something never hesitate to write back any time. All the best. Keep in touch.
Talk soon,
John
Cleo Smith
October 30, 2019I have a 3 bedroom/2 bath Manufacture Trailer Home for sell that is located on my Sister in Law Property in Rayville Louisiana . The home belongs to me and I just want to sell the home not the property, what is the best way to do this. I’m in California and the home was a Vacation Home for us. No one is living in the home. This home comes with slightly used furniture throughout the entire trailer home.
Thank you
John Fedro
November 7, 2019Hi Cleo Smith,
Thank you very much for reaching out and connecting. I am very glad to hear that your mobile home is a three bedroom. I hope that it is a single wide mobile home. If it is a single wide it will be significantly easier to sell than a double wide. I would encourage you to get pictures of the home inside and out and also place a lockbox on the door or have someone that is able to show the property. Market the home online and off-line on sites such as Facebook, Craigslist, and more. Mention that the mobile home has to be moved and that the home is selling for cash. Look around online for other comparable mobile homes that have to be moved with regards to a price that you should charge. I hope this helps and starts to point you in the right direction moving forward. If you have any follow-up questions or concerns never hesitate to reach out any time.
Talk soon,
John
Zaneta
November 10, 2019Hi John
We own outright our 1970’s mobile and property in Los Fresnos Texas.We started remodeling it and haven’t quite finished it. However due to certain circumstances we are needing to sell it.
Thank you,
Z
John Fedro
November 24, 2019Hi Zaneta,
Thank you for reaching out and connecting. Congratulations on owning your mobile home out right. If you are looking to sell your mobile home to an all-cash buyer then it is important to be prettier than the competition and/or lower-priced on the competitions as well. Make sure you or your advertising your mobile home online and off-line is much as possible. I would definitely recommend placing your website on Craigslist, Facebook, and http://www.sellfastbyowner.com/about-us/. Hope this helps and starts to point you in the right direction. Moving forward if you have any follow-up questions never hesitate to reach out any time.
Talk soon,
John
Mary T Fisher
May 14, 2020Hello,
I just moved into a mobile home in a retirement park in March and I’m miserable. It was a good deal, buy as is, have done some improvements: laminate floor throughout, all freshly painted, new gas stove. My options are either sell it now and take the cash and put down on a condo in my former town or rent it out and use the rental income as a boost to getting a mortgage. I also have a $25K mortgage of $261.99 a month and a lot fee of $405/month. I am also getting a lump sum retirement money in September. I make ~$31,560/month, gross, that includes my Social Security. My ‘ESOP’ money should amount to ~$40K so if I sell I can put down ~$65K leaving some for closing costs, etc. Or can I rent it out for say, $1500/month? Or am I being delusional? Thanks
John Fedro
May 31, 2020Hi Mary,
Thank you for reaching out and connecting. I very much got to hear about you being so miserable in your new mobile home. Great job pulling the trigger in the first place to see if you would like this type of lifestyle. I would absolutely encourage you to resell the mobile home and cash out if at all possible. Renting a mobile home in a retirement community may not be the best idea if possible. It sounds like you’ve certainly fixed it up so I would encourage you to aim for a retail price if at all possible. Depending on where you are there may be more senior folks looking to purchase towards the later end of this year. Moving forward if you have any follow-up questions or concerns never hesitate to reach out any time. Happy to help. Keep in touch. All the best.
Talk soon,
John
steve
May 3, 2021Hi,
Im looking at a mobile on 2 a pretty acres in the Cincinnati Ohio area.
Its a 1970 mobile on foundation with a 720 sqft addition. Its gutted and ready for a rehab. Its one of those deals where you cant hardly see that it is a mobile anymore. It is also taxed as real property. I can get it with land contract but a balloon in 4 years. Im concerned i wont be able to get a mortgage after its rehabed because of its age. or sell it for that matter.
Am I looking at this right? What would be my options?
Thanks
John Fedro
May 10, 2021Hi Steve,
Thanks for reaching out and connecting. Thanks for explaining the situation as this definitely helps me understand it better. You are right to be concerned about not being able to get a loan due to the age of the mobile home. Perhaps you can write an extension into the note that says if you are unable to find bank financing balloon pushes back for another four years. Perhaps you could make a principal payment at the time of a thousand dollars or more on the property. There may also be loans you can take out on just the land, especially if you only take out 50% of the value or less. While this does not provide a concrete answer I hope that this does help a bit and point you in the right direction moving forward. Depending on the numbers to deal can certainly make sense however give yourself a few different exit strategies if needed.
Talk soon,
John
Rachel
May 10, 2022My fiance and I are considering buying his brother’s 2003 mobile home and 1.2 acre he has in South Carolina, with a cash offer. We will be doing some updating ourself. Both property and mobile home are paid off. We were wondering if we need to go through a title company or what steps we need to take to do things correctly without involving realtors.
John Fedro
May 19, 2022Hi Rachel,
Thank you for reaching out and connecting. I can say with confidence that you do not technically need to go through a closing attorney or title company to successfully transfer title and a warranty deed from the current owner to your names. However I have done this a couple times and I usually pay the price one way or another. I would absolutely encourage you to go through a title company or closing attorney and obtain a title policy and title search on the land and manufactured home. The title company or closing attorney will make sure that there are no hidden liens or fees owed on the manufactured home/land after you purchase it. Even though this being purchased from family is best to double check with a title search performed by the closing attorney or title company. I hope this helps and point you in the right direction. If you have any follow-up questions never hesitate to reach out anytime. All the best.
Sincerely,
John
Bobbie
June 29, 2021Looking to buy a Mobil home on private lot I have cash
John Fedro
June 30, 2021Hi Bobbie,
Thank you for reaching out and connecting. I would encourage you to take a wide approach and look everywhere online and off-line with regards to finding a mobile home for sale. Since you’re looking for a mobile home with private land and are willing to pay cash, you may simply contact a local realtor in the area where you are looking to purchase. These folks may have some decent choices for you to consider from potentially eager sellers ready to sell. As is probably not anything new of a suggestion however I hope it does help point you in the right direction. Moving forward if you have any mobile home related questions never hesitate to reach out any time. All the best.
Talk soon,
John
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